Interinsurance Claim Service Organization
Type of organization of property and casualty insurance companies whose objective is to share information on fraudulent claims, handle claims in an expeditious manner, and disseminate public information concerning safeguarding of property. Some interinsurer organizations are the American insurance association (AIA) Index Bureau, insurance crime prevention institute, national association of independent insurance adjusters (NAII), and national automobile theft bureau.
Popular Insurance Terms
Rules that insurance companies must follow in filing an annual financial statement known as the convention blank, with state insurance departments. The reported financial condition of an ...
Government agency, under the McCarran-Ferguson act (public law 15), that has no authority over insurance matters to the extent the states regulate insurance to the satisfaction of Congress. ...
Under a general liability policy, a claim by an employer arising when an employee terminated by a supervisor without authority or just cause brings suit against the employer. Such a claim ...
Part of the Balanced Budget Act of 1997 that permits medicare recipients to select coverage among various private health care plans to include HMOS, PPOS, POINT-of-SERVICE (POS), MEDICAL ...
Business interruption insurance in which the insured is indemnified for loss of earnings and payment of expenses resulting from adverse weather conditions. For example, the raining out of a ...
Important means of preventing accidents and injuries. Insurers take corporate safety programs into account when rating workers compensation and other business insurance policies. ...
Coverage that exceeds the normal insurance capacity of an insurer or reinsurer. ...
Coverage that is renewable at the option of the insured, who is not required to take a medical examination. Regardless of physical condition, the insured must be allowed to renew the policy ...
Insurance for which premiums are charged according to the size of the face amount of the policy, so that the greater the face amount, the lower the cost per $1000 unit of insurance. ...
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